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I'm generally in your camp when it comes to economics, but many of my friends are small business owners and have a different perspective of the democratic parties approach to economic regulations. So many regulations seem like the capricious whims of some bureaucratic elitists in the executive branch. Some of them even seem punitive against a class of people those bureaucrats don't like. Even well intentioned regulations seem to have unintended consequences that may be worse than the thing they're trying to fix. And then other regulations, like many of those you mentioned here, seem essential for a healthy economy. I've never liked the flat "regulate"/ "deregulate" narrative. I think a more mature discussion would weigh the balance between economic efficiency and non economic social values that affect different peoples, but we can't even get past the "does this work?" phase because of political spite. I'm curious about what your take on JD Vance is. He seems heterodox compared to the usual republican "deregulate" approach.
At 9:35 you say 20% of white college grad liberals support reducing police budgets. but the text says that they favor this policy by 20% which would imply a 60-40 split. I’m assuming this is what you meant.
You might want to look into this product and whether you want to promote it. You haven't personally used it, despite what your copy says, or you would have known.
There is no need to be angry, AI generated buff guy voice in my youtube shorts told me if I wake up at 5 every morning and do push ups, I will also become a billionaire
@@ruirodrigues2938 Approximately every 10 years. DotCom bubble in ~90, don't remember ~98's crash, Housing bubble in ~08, covid in ~18, Not sure that's in ~28, but I'll wager my shares of amazon on it.
We really lucked out with Lina Khan. She knew she'd make enemies. She knew she would never be re-appointed. She didn't care - she did her job anyway. Respect.
Lina Khan was the goat, now that Trump is elected she will probably lose her position and we will not have another hero like that for at least 4 years, she really was doing thankless work I hope her career doesn't end here
The fact that Kahn's achievements can't be celebrated by the politicians that support her tells you everything you need to know about how fucked it all is.
She didn’t do anything though. All her actions were blocked by courts. All she did was stop a couple of mergers and threaten google/microsoft which is symbolic because nothing ever happens.
Always ticks me off when Biden went around about record job numbers. No shit Sherlock, we just exited a Pandemic where few people were working. Of course the job numbers went up you tool. Those would be record job numbers no matter who was in office. So tired of the gaslighting
@@ngf5077 In this world, “living above your means” by your definition just means “lives on their own at 29”. I’m 25. I live at home because I have no faith in moving out due to the fact rent renewals are in the order of several hundreds of dollars in annual rents when the time to re-sign the lease comes, so instead I just help my parents with the mortgage and funnel money into my business to grow it because I know my parents enough to know they will help us when they’re free of their mortgage. My older sister who’s 28 and does live on her own only does so because she rents a family friend’s old condo who has thankfully never raised her rent. She has coworkers in their young 30s who’ve had to move back with their parents. She has a coworker in their late 30s who have opened up their home to roommates to afford living. I have a coworker in their late 60s who had to come out of retirement last year because payments weren’t leaving them enough wiggle room for comfort due to medications costs and car payments after they were forced to upgrade by their old 1992 finally crapping the bed. Sorry buddy but not everybody out here putting $200 bar tabs on credit just so that they can go out every week like you seem to think. It’s just that things are actually brutal, and the CEOs and politicians are committing financial g***cide against the middle class.
Also the definition of employment includes being a driver for Uber or Deliveroo. If the definition of employment was “you have a job that allows you to afford to buy a home, a car and take a holiday each year” then I’d love to know where we are.
This feels like a direct response on the most recent Patrick Boyle video about how everyone is doing better but people are just too dumb to see it and just complain due to nostalgia Good job once again mr. how money works on showing the actual bad reality people actually live in
People are in a bad place because of the decisions they make. I’ll die on that hill…we’re making more money than we did 5 years ago but somehow is much broker. People are keeping up with the Joneses and complain about the price of a can of tuna but if you see their instagram you’d believe otherwise.
I'm glad I'm not the only one who thought that. I was a little surprised he put that vid out. He was definitely saying we're not smart enough to understand that not we're not broke😂
The degree is mostly useless. The market and government simply does not care about your credentials. You should have invested the money spent on the degree.
Lina Kahn has been a blessing. Since I keep up with what she’s been doing, I didn’t even notice her wins weren’t being praised by the democratic side. That’s absolutely vile. They deserved the L just for that, but also now I’m mad that the majority of people that do not keep up as much I do will never know the good that Lina did for us. Ridiculous
They also massively got illegal immigration under control towards the end of the term. Democrats this election hardly talked about the massive benefits they brought to the country.
The majority of people do not keep up as much as you do on ANYTHING. For work reasons, I've spent the last couple of years immersing myself in topics such as disinformation warfare, and the gullibility of the average human being keeps threatening to put me into a depression coma. Critical thinking is both one of the most important skills on Earth, and one of the rarest.
It really angers me that "can't find work" for too long = not "unemployed", but rather "not working" by modern standards. They are padding their stats so hard.
truth! it's all about the fake/old/manipulated KPIs the government uses. companies change the KPIs they manage to/focus-on, why can't our government do this as well? also, the unemployment rate should never be shown/charted without including the labor participation rate (example). LOL
Those stats exist. They haven't used that measure for 30 years tho bc it made them look bad. We use U3. But we used to use U5 or U6, which includes ppl looking for work. Those numbers are shocking, and you see why they switched.
I get the assertion, but you are considered unemployed as long as you're actively searching for a job. You drop out of the employment pool only after a period of no employment or attempts to become employed. It's a difficult line to draw, because we know a lot of young men especially are falling out of the labor force because they're discouraged by abysmal job availability, but if you always measure using the entire population then you run into crowds like full-time parents and retirees. The data isn't necessarily supposed to be a perfect picture at any point in time, but it's as accurate as we can get and movements in the data can still tell us a lot.
You have hit the nail on the head. People don't acknowledge there is a problem. Both politicians and the media. It leaves the majority of the working class entirely frustrated and hopefully something is done about this soon.
@@thebes118 Trump? Cleaning up? The billionaire that is about to stuff every american institution full of unqualified buffoons? Yep, I'm sure he's not just interested in not going to prison and enriching himself. I really hope you're trolling, otherwise the american people are even dumber than I imagined and we already look down pretty far on you guys.
@@thebes118Trump wants to cut spending on social programs and cut taxes for the rich. That will help the working class. Ah yes, then we have those tarrifs.
@@thebes118 Yeah he probably addressed very few issues but that itself was enough for him to get an overwhelming majority vote. Shows how desperate people are to get a resolution.
This is the issue with an incredibly unequal society; there is no longer any relationship between macroeconomic success and the success of the voting population. So basically it doesn't matter how well 'the economy' is doing if ordinary people aren't getting the benefit.
Time to raise income and long term capital gains tax for people who make over $500k a year and then dole it out as some form of UBI. Then people would care more.
Personally i just dropped off the rat race. Spent 5 years doing extra classes or juggling 2 jobs or accepting really highly stressful jobs, doing a ton of overtime and i pass and i basically got nothing to show for it today. I almost ended myself last year after being laid off. Now i'm back being ok but i just work as a custodian, do my 40 hours then go back home taking care of my dog and playing video games. Got rid of the car and a bunch of other stuff to reduce my expenses as much as i could to not feel pressured about money. I tried to become middle-class but the middle-class doesn't want people to join it. So screw it.
Lmao you have a house, a pet, and owned a car. You definitely were middle class and just didn't realize it. But I'm glad you found what makes you happy. We're all gonna die in the end so just enjoy it
@@jonathanabgrall6075 with your description on how your life is, I see that as middle class, we still work, but when we home we have our dog or family and get to relax with TV or whatever entertainment. The idea to join the upper middle class is something people forget that was the “American Dream” that is dying. But stranger I am proud of your strength, and hope you can join the tribe off car, house, and vacation soon!
Heh no, we haven’t even begun class warfare yet. We’re still just reminding people how badly they’re getting snookered unless they’re so wealthy that they’d only have to work again if the stock market literally went to zero.
This last election, ranked choice voting was outlawed in 17 states. Every single one of them Red. Giving voters choice does not favor incumbent parties, so it will never be fixed until the systems shatters.
@@invalidusername9999 That's the tell. We have to keep trying. Let's hope you're wrong on the system shattering -they've set up an enormous police state for a reason.
“Employment is up” is the biggest lie. I witnessed tons of layoffs. I was the one who had to disable their user accounts. I knew who and when they were being let go.
2 days ago i want to the third round of interviews for an entry level job. The ammount of things the interviewer told me that the position needs to do was just nuts with the added "There will be days where you will need to stay more time" i didn't even complaint because i had been unemployed for 5 months and I'm getting tired. Yet i need to be somehow thankful.
I've never used 60% of the knowledge required for my job position. I've also seen unqualified people with fake jobs that have special networking situation
I hear ya. I was just turned down a second time for a case worker job I'm fully qualified for working with homeless people ironically helping to ensure I become homeless in about a month.
@@olivierdomingue6312 I work in HR and completely agree. There's a whole lotta nothing going on. A bunch of people creating reports to reply to auditors and regulators, while they circulate feel good announcements about opportunities to volunteer for non-profits.
As the primary bartender of a little local bar/brewery in a middle class neighborhood, you don't need a degree in finance to see how bad things are. From sad strained tone of what people talk about, their plans for the future(or lack there of), or things as grim as the many former regulars I haven't seen once in the months/year since the day they came in to "celebrate" getting laid off. I've always identified as an Optimistic Realist: the glass isn't half full or half empty; there's just room for more. Even I don't remember what hope feels like.
The only reality we have left is that there isn't a future which is both freeing, because our expectations are gone, and terrifying because we understand that, that nothingness we feel isn't depression but life.
@@jayzee4097Frankly, that emptiness is depression. Please talk about your feelings with someone you care deeply for. Even if nothing changes, talking helps.
The most depressing thing is that I cannot imagine any endgame to this. No breaking point, no paradigm shift, no downfall in sight, no vision of things ever improving in any area. It feels like things will gradually keep getting worse seemingly infinitely.
El único punto de inflexión es la destrucción del sistema monetario por su propio peso, cuando el dinero se halla imprimido tanto y la confianza en este se pierda lo suficiente para guardar en otra moneda entonces podemos hablar de un reset, pero sería horrible la transición para los más vulnerables a corto plazo.
Nothing new, history has been repeating itself. WWII was the last bottoming out before good times come back after. We're on the decline again until things get equally as bad, because the majority of people don't retaliate in big enough numbers to prevent living standards dropping. It won't again be until there's another world war or other drastic event that has enough people homeless and dying on the streets to actually band together to overthrow the suppressors. Enjoy things while they're still relatively good, I don't think the 21st century is going to escape the repeat.
Scared people don't always make the best decisions. That's one big reason why so many political ads go on about "are you better off than you were", they want to ramp up that fear, uncertainty, and doubt (FUD). It's one of the main tricks of marketing and it's used everywhere. Whenever you see FUD being used hang on to your billfold and your liberties.
So stupid. "Hey, my house has leaks and the current admin my not patch them up, so I'm voting for the demented arsonists and their merry band of termites.
Ngl the Internet is such a powerful tool since it's our best way to make our voice heard off while taking action upon those greedy politicians who only care about their wealth. The only problem is, most of us are greedy too.
I’m just frustrated as a college student about to graduate literally in 3 weeks. I have been told at a young age that getting a degree will help me for my future. But my field is so saturated (CS major), I am tired of spending hours of my time doing OAs to get an automated rejection. At this point I need a job to survive after a new grad but my parents are so upset that I cannot find a job for something I studied 5 years in…. How the heck can someone get a well paying job in a other field but job requirements are so strict and dumb
Technology has always been bad about pigeon-holing applicants and demanding a precise match. I encountered the same in the late 1990s. Companies are unwilling to believe that "a coder" can jump into a different language or platform.
@@Avo7bProjectit's more so that companies can be picky and choose the candidate that won't need a few weeks to learn the required language or framework when they can just hire somebody else that won't need that ramp up time
Better get away from your parents, they will make everything worse by pressuring you into doing things that make them proud but keep you poor with limited options
I feel your frustration, I got multiple certs yet every it job Ive applied to in last 4 months, only 2 of them gave responses, which were not selected. I think its the mentality of businesses leaving hooks out and seeing if what bites is an industry veteran and matches with "on paper" expectations.
Oh I just graduated CS too, I feel your pain. Worst time to graduate CS since 2008 or the NASDAQ burst of the early 2000s, but at least prices went down then, now they're going up.
Politicians: Inflation is down! The people: but prices are still up! Politicians: We created 1 million new jobs! People: Then why can't I find one that pays me enough to live and is full time? Politicians: We have the fastest growing economy in the G7! People: When why do I have less money than I did in 2019 while working two jobs?
Offering $5/a day to pick up dog poop counts as creating a job. They never say anything about the quality of the jobs. Unemployment can be down bc everyone is working multiple jobs to make ends meet
Politicians? Who’s in office right now? Lmao, when democrats are in office and things are bad it’s politicians. When republicans are in office and things are bad people make sure to specify. 😂🤡
Remember: Our incoming "co-president" Elon said that we Americans will have to "suffer" financially for about 2 years. I'm guessing that means austerity measures are gonna be on the menu.
Well, have you seen you guy debt ? Doing anything else would just straight up destroy the country. And it’s not like most American aren’t already suffering from the dem results
If you happen to be old enough or studied history, you'd also remember that there was a mini-recession in 1981 after Reagan took over and started implementing his policies but by 1984, the country was humming along so well he won 49 states in his re-election campaign.
@Code7Unltd We were already going through austerity measures. Just means more of our lives will be privatized. Maybe they'll let Starbucks buy every library in the country or make it so you have to pay a toll to walk into a hospital
thank you, for making this. I'm tired of being gas lit how bout how great things are when I work 40 hours a week and can't afford and see no upward mobility at this point in my life
@@ngf5077 This just isn't true, and I'm far right in my political beliefs. A lot of people in this country are VASTLY over paid, and by inflation that makes people who really deserve what they work for underpaid.
@@Justin73791 deserve? Negotiate higher compensation. If you are worth it then you will be paid it. If someone is overpaid then provide their service for cheaper.
One easy thing : Stop thinking that the wealth of the rich (GDP (per capita or not), Growth, stock market and all usual indicator) is the wealth of the nation.
That’s the hardest thing in the world. The winners in the current system WANT you to only be aware of those indicators because those are the ones that benefit them. Reporting on the number of people who live paycheck-to-paycheck would be much more useful for understanding the median American, but would also expose how poorly the economy is doing to enable the wellbeing of non-hypereducated workers.
truth! it's all about the fake/old/manipulated KPIs the government uses. companies change the KPIs they manage to/focus-on, why can't our government do this as well? also, the unemployment rate should never be shown/charted without including the labor participation rate (example). LOL
Don't forget that part-time workers who want full-time work aren't counted as "unemployed" So in this gig economy: unemployment is low but full-time employment isn't the answer to why unemployment is low.
Ive not had a raise in 4 years while prices go up for everything. Im amgry too. Worse yet, if i did get offered a raise, its barely going to be .2% despite being in a position that was supposed to be salaried. Im already getting paid only 55-60% of whats listed on glassdoor. Still gotta vote for the side more likely to help overall.
The post office make it hard to do business with them. A local church quit sending out their monthly newsletter and now email it because the minister took the mailing to the post office and it took him over an hour to get it mailed. A check mailed locally to me took five weeks to be delivered. That customer now has me set up ACH no check will be mailed and I can send them the invoice electronically. Another check was returned to the sender even though it was properly addressed to my business in my home.
One of my favourite political commentarors basically brought up how on paper the U.S economy is doing better than ever and there actually isn't an issue. Problem is, just because it's doing better for megacorps and investors doesn't mean it trickles down to average people.
mergers & acquisitions are a symptom of small businesses being destroyed. Merely restricting them won't do jack squat. Allowing small firms to compete is the remedy. And making it easier to be self employed will do a lot to alleviate the employment problems. If self employment is a more viable option for employees, then employers are competing against self employment opportunities and not only with other big employers, with whom they can collude.
Yeah. The regulatory burden for small businesses is insane. My last employer owned a convenience store. They wanted to start selling warm biscuits. They already sold warm hot dogs. It took them a year to get the license approved. Not because the state said they were doing anything wrong. That's just how long it took for the paperwork to get processed. I know another guy who opened a coffee shop/café. He got all his paperwork in and months later they still haven't approved him to sell most of the menu items he wanted to offer. It's ridiculous.
To some extent the self-employment movement has been underway for at least the last ten years. It HAS been having SOME SMALL effect on wages, based on my research (or at least, based on published research I've been reading).
@@Pacemaker_fgc If I could like this one a million times, I would. Yes. No matter what rules there are, they favor someone over someone else, and some group eventually does better than the other people. Simulations have shown that even if monetary success was entirely RANDOM, whoever wins in the first round does better than whoever loses in the first round by the time several rounds have gone by, thanks to compound interest and investment returns. (Assuming at least some of the winners of the random success distribution make sensible investments with their money... which means the smart and disciplined people win out even in a world where success is completely random.)
you do really good work here, your scripts are well put together. The message is concise, and I appreciate that you give proper consideration to actually unpack the detail of macro trends
Governments say employment is up. Today that just means gig work and low paying jobs are up, not actual careers. Most of the people I know my age have jobs not careers. I know 1 person my age age who has a career while I know a bunch of late 40s to elderly who have careers. They are the only ones who are not struggling.
One way I put it is that while prices have stopped "spiking", they are still "spiked" - they're no longer "climbing", but they're still so high. People haven't been able to adjust to the new norm, so it's "bad".
It's easy for companies to increase their prices, so those can go up quickly in the event of any factors contributing to inflation. But every increase in wages must be hard-fought and reluctantly given, so it's a much slower process.
anecdote time: after getting laid off in '22, going through a career change to dev work, which then followed the tech downturn and layoffs and its been a fucking fight to get an underpaid job just to start getting experience since im now competing with thousands of laid off experienced, highly skilled workers. yet all year i heard how great the economy was and how many jobs were being created. the more i saw this bullshit the angrier i got through the year because i just kept questioning who is it good FOR!? this shits real man and the anger creeps up on you before you know it in just the right circumstances
Well that’s on you for falling for the tech bro bullshit. I’ve seen so many of your type in the industry, and you can’t just expect that in a few months you are going to get anywhere close to people that started in this industry. I’m tired of having incompetent coworkers because they taught that tech was easy money.
@ lol dude shut the actual fuck up. I did programming in college for new media art with a focus on design instead of computer science. It’s not my first time coding I just didn’t look into as a career. Go clutch your pearls somewhere else you snob asshole
@@andyvirus2300 my last comment got deleted so i wanted to make sure i said this in a nicer way this time. you have no idea who i am or what my life experiences are at all, and for you to make that leap about me says alot more about you than me as a person and how you treat others. i went to school for new media art, where i had to learn the basics of coding, but my degree focused on design, not computer science. This is absolutely not my first time coding, but i decided to take my previous skills and leverage that into a new career, which i was able to do. so again go clutch your pearls somewhere else, and i pity the people that are forced to work with you, knowing you clearly wouldnt have any interest in helping someone grow or become better
@@andyvirus2300I’ve been doing it since I was 15, and still having issues even getting internships 4 years later almost done my bachelors in software engineering. I have VR game mod (bug fix) , full stack website (that is actually useful, uses an algorithm to reccomend you the best cards for your credit profile and spending habits, im using it myself), and automating some spreadsheet processes in excel. I also do have previous work experience but that’s only from part time retail, I have personal experience working on electronics, bikes, and cars as well, still no dice on these jobs. Every 100 applications, I’ve only gotten 2 beyond the rejections/ghostings, and one of those was a scam.
The big problem with fixing this is Americans are leveraged to the gills, with estimates that the average consumer had already used 80% of their available credit back in the summer just to keep up with runaway inflation. We see also car loan delinquencies along with credit cards are at decade highs as people struggle to make payments. So now consumers are having to cut back, purchasing only necessities, making only minimum payments, and so on. This means business revenues and profits are declining as the average American no longer has available credit to continue purchasing like they have for the past few years; and that means layoffs, hiring freezes and/or reduced hours, further hurting incomes and earnings, and driving up loan delinquencies in a vicious spiral.
Most people don't really need cars in the first place. We can complain about the economy 'till the cows come home, but let's not pretend the average American is making wise financial decisions.
@@loneIyboy15 You've obviously never lived in America if you think a car is not an absolute necessity with how transport works here. Plus if Americans stopped buying cars the economies of Germany and Japan would implode and take Europe and Asia with them. Economic prosperity requires both the production AND consumption of goods and services. You can make whatever you want but if no one buys it you'll go broke real quick.
@@loneIyboy15 You can't even hold down a job in 90% of the country without a car. Hell, most companies won't even hire you if you don't have reliable personal transportation.
I think you are one of those people who confuse capitalism with corporatism-govt-fornication ritual, a.k.a crony capitalism. Also it goes WAY beyond capitalism. It's about people not caring about other people due to degrading religion/culture.
Out of all the hour long deep dives, debates and podcasts I've listened too over the last few months as to why every election this year has turned out the way it has, a goofy guy in california who I watch for basic economic explanations summarises and explains it better than all of them in 12 minuets. Bravo.
It's a top down economy. Stock market & those at the top are doing great. If you Middle or lower class then your still getting COVID pricing, paying more for less. Get ready for it to be worst. Once the last bit of consumer protection & regulation is stripped away your going to be paying top dollar for garbage & terrible service. Yes even worst than what we have now.
Interestingly, JD Vance of all people said that he thought Lina Khan did a great job. He got dragged in the media for that as you'd expect. This will not change anything but I figured I'd give everyone some hopium
@@bobthebuilder9509 JD Vance is a questionnable man, but as every human, one can be right and still being the worse. Good luck Americans, January won't miss.
I think JD is a decent man that is compromised by being in Trump's government. He's going to need some flexible values or be very good at shutting up to last these 4 years and still have a political career afterwards.
Employment statistics are always terrible in politics. They have no connection to the people. Just because unemployment is less, does not make Joe Bloggs happy about a 9-5 job which pays below minimum wage which and only just pays their rent.
Not to mention most of those jobs probably aren't even a 9-5, like pretty much all customer service and retail jobs have a very small amount of full time positions, everything else could be a 20 hour work week, hell I've had retail shifts of 4 hours every day it's terrible and pays nothing but it still counts as employment!
@@onikwa Yeah, 20 hours a week just isn't enough time for the cost of living and when you are working 2 or more jobs you have the extra fun part of wasting about 10 to 20 minutes every week with your managers at those jobs to negotiate times in which you can work because they overlap with another job even though I made it clear on my availability I was not available during those times. I'm thankfully full time now but I do not want to go back to that. I still think the average pay should probably be about $5 more an hour then what we have currently. Even with full time, every single expense per month kind of pushes me to break even just barely and I'm actively trying to spend less.
@@onikwa aye. some people are working three jobs and struggling. When someone is working that hard then it not only is unfair, but it has larger social impacts on their children.
The existence of Lina Khan and Jonathan Kanter are two of the best people to enter their respective roles in nearly a century. Yet most people are completely unaware of who they are, except through the lens of the occasional temper tantrum from a billionaire upset about being actually regulated for once. The most frustrating thing about people wanting to re-elect Trump to solve the issues around inflation and high cost of living is that, much like Nixon and Carter in the 70s, the problem originated from *his* policies and the mistake of the Democrat that followed him was not that his policies made things worse, but that they failed to do enough to address the harm done in the first half of his administration as a result of those policies. Think about it! If you hated how things were in 2020 and 2021, was that Biden's fault or Trump's? If you're longing for the days of 2016 and 2017, are you wishing for the Trump economy? Or were you just loving how well things were going after 2 terms under Obama? I am fine if you want to create change as a voter to leaders you feel do a better job. But the American public needs an education in how to evaluate whether an administration is on the right track, or whether the troubles being felt under them were actually their fault vs damage done by those who came before them.
2:30... I wish that was true. They really need to start counting people that 'exited' the workforce out of exhaustion chasing an elusive goal. I've been out of a job nearly 3 years now, and sometime last year, I just gave up applying to jobs. It was becoming too stressful. Most never reach back, and the few that do is simply a rejection e-mail or voice mail of some kind. It's not that I don't want to work, but after 400 applications, I just don't see the point in trying anymore.
I appreciate that you explained your background. I understand now why your channel feels so even-handed because you've been both working class and rich, so you've seen both sides. Robert Reich wrote a great blog post here on YT talking about the workers in the midwest and how presidential candidates on both sides keep ignoring their needs. I don’t follow Reich anymore but it was a powerful piece of writing.
I read an article about Robert Reich years ago, it was titled "Half-right Reich." He does a good job of diagnosing the problem, for instance wages are stagnating for workers, but his solutions are old-school socialist. One absurd contradiction is that he's pro union, but lobbied aggressively for NAFTA. So in the past he was better than most because he at least acknowledged there was a problem, but his solutions were awful.
@@bobbobertson7568Unions usually have opinions about non-organized labour. But I don't think it matters as much as you think if that unorganized labour is a Mexican seasonal worker or an Uber driver from Florida.
oh come on guys just take one of the millions of new jobs that are either fake numbers reported by corporations for tax reasons OR just straight up worse paying jobs than anything you've had previously what's the big deal?
That’s the funniest part. If you do find a job posting or get contacted about an open job, the pay is the same or worse than what you were making 5-7 years ago. These companies are clowns 🤡
@@blahblahblah-uw4ufI got a posting yesterday for mechanical technician II which paid $21 dollars/hr. The regular assemblers at our company make that starting out why would an experienced and trained tech be willing to take that pay? Stupid.
@@andrewpolito9244 Exactly. Why would someone with 5-10 years of experience be interested in a job that pays the same as an entry level person with zero experience. Make it make sense.
Getting handed a sh*t sandwich and being told it's a BLT is frustrating. Calling the "manager" to fix the issue and having them show you a graph based on some funny numbers about how sh*t sandwiches are actually BLTs is beyond angering
I always try to remind myself that of all generations ever, economically, we are still in thr top 10, easy. Still, the stark contrast between the last few generations and mine is hard to stomach.
About the rich kids, "never needing the police to be safe" no, there police were there to keep them safe, but those kids didn't see them, were kept from seeing them, or were the problem for the police and why they wanted them gone.
people will literally do anything besides simply paying people what their worth blame it on anything you want but it always comes down to the same thing. everything is more expensive, and despite bullshit statistics i dont know a single person who is making as much as they were in 2019 let alone more. Edit: and its pretty easy to tell who you would vote for. the person who shares your privilege. plus your bias is easy to see in the way you deliver your "answers" like they are fact and not conjecture
In a great generalization, there are really two classes Working class and stockholders The working class builds and runs the world, while the stockholders benefit off their backs, making often worse decisions for a company than the workers "in the field" who would often better know how to improve performance and work, increasing work/life balance But in order for that to happen, the stockholders would have to give up control, and their income. New idea, how about ubi funded from the "profits" and stockholders make less than the people who actually do something for the company
this is what happens when you have scholars and politicians obsessing over numbers and spread sheets. you can cook numbers to look great meanwhile everything is falling apart.
I think the disconnect is what people are saying and what they are seeing. People are saying that they can't afford stuff. But the grocery stores are always packed with carts filled with groceries, restaurants are busy every day, airlines are filled with people, hotels are constantly booked, online retailers are making record profits, people are still buying these expensive homes at the high interest rates, people are still buying gas guzzling expensive trucks and suvs, concerts and sport games are still selling out. Alot of people are being laid off, but alot of people are getting jobs. I think that's where the disconnect is.
It sounds like you have an upper middle class pulling ahead. I'm always interested in variations inside class. And I think this lets a lot of upper middle class feel like honorary upper class, even if they are tossed crumbs or it all depends on debt. It's not an extremely small elite who has benefited from house prices, but people who could be your grandparents.
@SusCalvin oh I'm far from upper middle class. I'm just a black man who grew up in the projects from the small rural segregated town in Arkansas. Me and my sister from a family of 9 are the only ones with a college degree. I was working at the hospital as a paramedic when the pandemic happened and decided to go back to school. I eventually landed a job making $67k yr, which is double what I was making as a medic.Not to say that I am well off, I do have my stuggles and trying to pay off debt, but I am doing alot better than I was 4 years ago. I do see other people struggle especially when I go visit my hometown in Arkansas, there is a great despair of economic hardships. But, on the flip side of that, there are 2 new solar factories that opened up there a couple of years ago and construction going on to update the infrastructure there thanks to Biden infrastructure policies. Alot of those factory workers have only high school diplomas, making decent pay have nice houses and big fishing boats in there driveway, yet they voted for Trump. Shoot, even one of my brothers voted for Trump because he said everything is expensive and hard, yet he has a supervisor position at one of the factories, only have a high school diploma, and he is making more money than me. Unfortunately, those plants may close down under Trump because he said he is getting rid of everything Biden created that has anything to with green energy. I guess the point I was trying to make is that I think the Democrat politicians are disconnected from the voters. What they see is robust spending, which is reflected on what they see on paper and that is a healthy economy. When in fact, alot of people are indeed struggling and cutting back and can't find jobs.The Democrats were not listening to their constituents when they told them this, but just tuned the voters out, basically saying oh we see you out there spending money on online retail and restaurants, taking those vacations, going to those concerts,getting hired at those jobs we created, so a win is a win an you're not struggling. That made alot people angry and rightfully so.
@@bdodd101 I just think the narrative is just that, a narrative. All my coworkers make more than me and say the same thing about how terrible it is and they are dying of hunger and bills. Yet I'm about to buy my first house outright. No mortgage or anything. Reality and math just don't add up. Some are struggling, maybe more than before but that is always the story. It's like the narrative of Boomers are all home owning land grabbers who ruined it for the rest of us yet somehow are struggling and scared if they lose Social Security and Medicare they will die. Maybe the world is more nuanced than people are capable of these days. I don't know.
@bdodd101 I always think in terms of European parties, because that's what I'm used to. Smaller, more ideologically defined. I don't expect the liberal-conservative or the christian democrats to be social democrats. To bunch them into one of two giant parties is hard to wrap my head around.
We also need a broader conversation on why inflation is considered “normal” at 2-3% a year, while a crime caused by the current administration if it passes 10%. Government manipulation of green rectangles is stealing productivity from the bottom and moving it to the top, causing many of these problems.
I’m often reminded of “A Tale of Two Cities.” “It was the best of times. It was the worst of times.” That at least gives me some small comfort in that our troubles are not unique
it's not unique and yet the governments to reach a solution to fix it, make it feel like the worst problem of the century, because daaaamn they really slow about it.
To the contrary, most of this is business as usual at the historical scale, and a return to form if anything. Very little of this is truly new, although a few key elements are.
@@NevisYsbryd The one new key element is internet-based globalization and its many, many effects on the world, some obvious and predictable (protectionism vs. free market battles) and others less so (nations offering digital nomad visas). I don't know if anyone, including me, is capable of fully understanding this transformation. We may have to wait another 50 years before anyone can write a good history of all the changes this technology revolution brought.
@tarlkudrick1174 That is not the only one, although I agree it is the biggest one. Categorical leaps in accessibility and range of communications technology are some of the most dramatic because the increase of speed and comparison with different perspectives increases logarithmically or more. If you want a reference point, consider the printing press, which, alongside firearms, precipitated the Reformation and breakup of sociopolitical hegemony. A lot of our modern context resembles the transition of the Late Middle Ages to the Early Modern Period with many of the trajectories inverted.
This is a great comment -- and somebody on TH-cam exposed a different way of polling voters prior to the election ||>> by using policy statements for people to decide on without knowing which party is behind it … upshot most people were bipartisan in agreement on what MAGA would consider “socialism”. People nowadays do need a more level playing field to succeed.
Yes. It's pretty obvious that people need and should want radical leftwing policies. But they keep voting for the opposite and shift further right on the spectrum year by year. I mean, They get what they are voting for. I don't know why they are suprpised. It's nice that they are pumping up my stock portfolio though.
There is a perfect example of socialism in America that many don't realize. The military. They have full healthcare, benefits, and educational coverage. Also if you look at the hierarchy it is also more merit based. Compared to a corporate structure, in the military those at the very top don't exponentially out earn those at the very bottom. The military has many socialist policies in place and not even the most right wing of Republicans will fuck with the US military.
There's an important difference between heavy regulation of a market economy baseline to correct the problems of a market like volatility of inelastic necessities and having a command economy baseline with practically impossible to solve incentive problems. "Classical" Socialism is the latter with an incredibly long history of everyone involved refusing to learn from the constant failures, "pure" Capitalism is deft at avoiding the former while demanding several wealth-concentration opportunities due to investment dynamics. The "socialist" policies that have a track record of actually working are the state being a capitalist actor in itself using the revenue from its business ventures in place of truly crippling taxes for welfare (Sovereign wealth funds like the Scandinavian states) and market economics driven bottom-up by the workers forming cooperatives rather than top-down by investors buying material to work with (market "socialism" like Slovenia). Neither remotely fits the incredibly vast majority of socialist theory nor "socialism" as an economic model of its own because both are still beholden to extremely devolved decision making by consumers paying with money.
Don't you love it when our Leaders who are in the top percentage of earners talk to us that everything is going to be absolutely fine. Kind of leaves a poor taste in your mouth. Not that their statements are without merit and we may have avoided the worst case scenario. That said most people don't feel secure with avoiding the worst case scenario, so i get people want change.
Thanks for making a semi-political video that properly balances out the concerns of both parties. It is telling that the comments section is civil that you put a lot of time, effort, and thought into this video to find common ground. And this I applaud you for.
gonna be honest. I am absolutely fed up with people my age voting on identity politics instead of economic interests. I don't even care which side of the isle you go for... but ffs having a democratic representative won't make people stop bullying you. A republican representative won't make your neighbors racist. fuck lobbying. fuck corporate journalism. fuck our healthcare system. fuck our declining education system. fuck the people that make it possible for some full time employees to be homeless
Both Trump and Biden paid for their responses to the pandemic. Trump paid in 2020 because he didn't do enough to help the people when the pandemic started, and Biden/Kamala paid this year because he didn't help the people enough in the years after the pandemic. A lot of people are worse off than they were in 2019, so this should be a lesson to all politicians that if the people aren't doing well, they will blame whoever the current administration is, so do right by the people economically
All that "help" has been driving the inflation people want help with. Money printing/borrowing has consequences. The federal deficit is nearly two trillion dollars for this year. There's nothing sustainable about that. There's no room for "should have helped more". The federal government is just as broke as you think people are. It's not living paycheck to paycheck. It's living on credit. Americans need to get real about government spending. Adult conversations are long overdue.
@@BTrain-is8chSo...cuts to social security and/or military spending? Because if you're not inclined to allow either of those you're not going to be able to make up for that deficit with spending cuts. If every single civilian federal employee was laid off that would only account for 15 percent of the overall budget.
@@BTrain-is8ch And yet there's always room for tax cuts and subsidies for the wealthy under both sides of the aisle. Doing nothing is not sustainable. Sayings like everyone should just "pull themselves up by the bootstraps" is nice, but is unrealistic for Americans already struggling. Government CAN be a good tool for giving Americans a helping hand, but not in its current form where big money rules everything.
Worker co-ops and unions, mutual aid groups, red guard teams and community antifascist defence, libraries, gardens, free community fridges etc. Gonna need stuff.
Politician incumbents: *Gaslight* Media: *Gaslight* People: "Why do I not have money then? Why are the only jobs that have the 'grace' to 'reduce themselves' to responding to your applications in the past 4 years are ones that say you don't have experience?" Media: *Gaslight* Politician: "You go, girl boss! You don't need a primary or any process that is democratic in anything but name!"
@@ngf5077That's right! They should get educated in something like... Hmmm, Pyrotechnic chemistry! That way, the cost of them being unemployed and radicalized is far higher than giving them a job!
In the Animal Farm the goverment kept saying the stats are up this and that percent, but the peope didn't feel it. That is what is happening now. The gov keep spitting good stats but the people feels thing are getting worse and worse.
Within the first 45 seconds you've explained more an' have been more honest about the economy than the mainstream or even my local news. Your work is priceless, Sir - Thank you.
I do wish they valued the opinions of us poors. They are so far removed from what we deal with everyday that they have no idea. The system may be to broken to fix.
@@edheldude Let's see how well this comment aged in a few years. Or a few months - all predictions from reputable economic think-tanks with high accuracy reputations point to consumer prices soaring as soon as Trump's policies start taking effect.
@@sonipitts And you thought the other side's tax hikes on companies and individuals were going to result in what exactly? Falling prices? The federal government is too big. It is too expensive. It is part of the problem not the solution. Neither Democrats nor Republicans show any inclination to address those problems.
I am pissed because I had to turn 22 in the same decade that the economy decided to tank. Influencers say we "We should be grateful." Yet, they take their luxurious life style for granted
I don't get why bragging about Lina Khan's achievements would be bad for democrats. Sure, the billionaires would hate them, but billionaires already know about this stuff anyway. And most of the voters are not billionaires.
The billionaires don't want the voters to know, and the pols all have to tell the billionaires that Lina was a Biden pick and she'll be out next year, but they can't do that if they're selling her to voters.
Because instead of listening to voters they need billionaires to fund their political ad campaigns explaining to voters that it's "not that bad, vote for me!"
I got an ok job but have been looking for a job because company might be doing layoffs. Job market sucks. It has sucked since 2022. No one is hiring, the few job postings have absurd requirements for shit pay. Most people know this. People at the lower end are working multiple jobs just to get by. I know because I try to hook up with 30-50 year old women and they're always at work(no it's not just an excuse), working uber, retail, etc.
Yeah, I browse the internal postings at my company and realize that I've aged out, and don't care to dance and sing sufficiently to get a different role. I just cling to where I am, and don't even care about what it takes to excel and get a raise anymore. I'm just going to dog-paddle to retirement and take the attitude that each paycheck might be my last.
They wanted Trump in power too, theres only one party in America, its the capitalist party, its all a game they play to make us feel like we have a choice
My guess is things aren't going to get better so we'll just spend the next few decades switching parties every election because things will be not get better so long as the big money donors own both sides
I don't think they need to learn anything. No presidency is perfect, Trump can stabilise things enough for the next Republican to be re-elected but that's just about it, an economic situation where stock markets, corporations are doing well but people are not is inevitable with the rise of AI and automation, that is not slowing anytime soon
Pretty good video. Something I would have liked to have addressed is the way the metrics help create this issue. Jobs, GDP, etc have all been target metrics for so long that they practically game themselves.
So long as it is possible for individuals or private interest groups to infinitely grow in wealth and power, democracy will inevitably die. A wealth cap ratio is the only way to save democracy.
@@ngf5077 account made in 2022, you're either a bot or a child. Even if you're an adult, your moral compass is apparently shallow enough that "I don't want to share" is somehow a good and righteous reason for why millions of people should need to work 2-3 jobs just to barely survive, while a tiny number of people own 2-3 houses without needing to work a single day in their life. "I don't want to share" is a good enough reason why the bottom 50% of the population only owns 2.5% of the nation's personal wealth? That's not even including the wealth and assets of corporations. We work the factories, we farm the fields, we work in the hospitals, we build the homes and infrastructure, we do all the work, and they get all the rewards. The rich are stealing from us. They've gaslighted us into believing that the fruits of our labor rightfully belong to them. This is feudalism. We have been relegated as peasants, all the while being told that THIS IS freedom, and so there's no need for us to fight for our freedom.
If you have 10 people in a room and 9 of those people are unemployed and 1 of those people is the CEO of a fortune 500 company with an annual salary of $1,000,000 per year, the mean salary of people in that room is $100,000 per year but the median salary is 0. Further grim thought; 90% of the people in that room will be suffering horribly every day, and be degraded, while 10% live in luxury.
@@tornamacpilib5029 if you have a chance room with 1 healthy patients and 1 dying of kidney disease. Everyone has an average of one healthy kidney. This does not stop greedy people from refusing to share
Wow. It was a meme about this privileged rich girl getting air dropped into politics calling herself middle class... but it actually worked? Some small deal of people actually believed it?
"Oh nooo... Wealth is being concentrated to the top one percent and not trickling down to us regular folks. What are we, as a calitalist society, gonna do about it?"
I love the grounded reality of this channel!!! *If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation.*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.
Honestly, our government has no idea how people are suffering these days. I feel sorry for disabled people who don't get the help they deserve. All thanks to Mr Michael Wayne, imagine investing $1000 and receiving $5700 in a few days..
Did someone just mention Mr Wayne!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is
For one thing, it started to obviously connect to a lowered standard of living beyond the point of comfort for a large and vocal portion of the population.
@@Avo7bProjectThe largest bug I could see from the outside was gerrymandering. The electoral college as a middle man between the voter and the government was hard to grasp.
When the working class started to lose ground vs gain it. Right around mid Clinton era, maybe post 9/11, if you had to put a date on it. But it started under Reagan FWIW.
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People should be angry! Tax laws and policies favor Companies, and trickle down economics over people and families.
I'm generally in your camp when it comes to economics, but many of my friends are small business owners and have a different perspective of the democratic parties approach to economic regulations. So many regulations seem like the capricious whims of some bureaucratic elitists in the executive branch. Some of them even seem punitive against a class of people those bureaucrats don't like. Even well intentioned regulations seem to have unintended consequences that may be worse than the thing they're trying to fix.
And then other regulations, like many of those you mentioned here, seem essential for a healthy economy.
I've never liked the flat "regulate"/ "deregulate" narrative. I think a more mature discussion would weigh the balance between economic efficiency and non economic social values that affect different peoples, but we can't even get past the "does this work?" phase because of political spite.
I'm curious about what your take on JD Vance is. He seems heterodox compared to the usual republican "deregulate" approach.
At 9:35 you say 20% of white college grad liberals support reducing police budgets. but the text says that they favor this policy by 20% which would imply a 60-40 split. I’m assuming this is what you meant.
You might want to look into this product and whether you want to promote it. You haven't personally used it, despite what your copy says, or you would have known.
There is no need to be angry, AI generated buff guy voice in my youtube shorts told me if I wake up at 5 every morning and do push ups, I will also become a billionaire
Just stop being poor, buy their course on how to become wealthy by your 14th birthday for only $500 a month.
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It's true. That's how I became a billionaire. Just trust me bro.
sigma mindset reels made by 14 year olds🤡
Buy my book, "How to make 500k selling books on amazon". Now on amazon for only 500k.
It's so frustrating becoming an adult during the "find out" era.
Done with "adulting"🤣🤣
And to add onto those difficulties, the era that 'fucked around' is gaslighting your efforts
Imagine doing that at 2008 crises😅 its non stop
@@johnstirling6597done with people that use words like adulting
@@ruirodrigues2938 Approximately every 10 years. DotCom bubble in ~90, don't remember ~98's crash, Housing bubble in ~08, covid in ~18, Not sure that's in ~28, but I'll wager my shares of amazon on it.
We really lucked out with Lina Khan. She knew she'd make enemies. She knew she would never be re-appointed. She didn't care - she did her job anyway.
Respect.
yeah. There probably won"t be another FTC Chair like her in a long time.
And Trump is gonna fire her so fast.
Lina Khan was the goat, now that Trump is elected she will probably lose her position and we will not have another hero like that for at least 4 years, she really was doing thankless work I hope her career doesn't end here
Hope the Democratic president that will be elected after Trump will hire her again
@@sohu86xVance like her but Trump won't listen to him, but to the tech heads who dislike her
The fact that Kahn's achievements can't be celebrated by the politicians that support her tells you everything you need to know about how fucked it all is.
She didn’t do anything though. All her actions were blocked by courts. All she did was stop a couple of mergers and threaten google/microsoft which is symbolic because nothing ever happens.
Politicians are people, they have biases, want their own success and do not want to people that oppose them and make them look bad.
We've been in a Plutocracy for a while, sadly. I don't know how to stop it.
@@raze2012_ Don't have kids. Overpopulation fuels exploitation, when the plutocrats run out of cheap laborers things will be forced to change.
How to combat inflation while minimizing harm to ordinary people: bust monopolies and tax the rich.
Politicians: "We created 1 million new jobs!"
People: "I know, I have three of them and I still can't pay rent!"
This is the best comment ☝🏻 - so many people have a main job plus two or more side gigs, just to get by.
Stop living above your means
I smell avocado toast and latte
Always ticks me off when Biden went around about record job numbers. No shit Sherlock, we just exited a Pandemic where few people were working. Of course the job numbers went up you tool. Those would be record job numbers no matter who was in office. So tired of the gaslighting
@@ngf5077 In this world, “living above your means” by your definition just means “lives on their own at 29”.
I’m 25. I live at home because I have no faith in moving out due to the fact rent renewals are in the order of several hundreds of dollars in annual rents when the time to re-sign the lease comes, so instead I just help my parents with the mortgage and funnel money into my business to grow it because I know my parents enough to know they will help us when they’re free of their mortgage. My older sister who’s 28 and does live on her own only does so because she rents a family friend’s old condo who has thankfully never raised her rent. She has coworkers in their young 30s who’ve had to move back with their parents. She has a coworker in their late 30s who have opened up their home to roommates to afford living. I have a coworker in their late 60s who had to come out of retirement last year because payments weren’t leaving them enough wiggle room for comfort due to medications costs and car payments after they were forced to upgrade by their old 1992 finally crapping the bed.
Sorry buddy but not everybody out here putting $200 bar tabs on credit just so that they can go out every week like you seem to think. It’s just that things are actually brutal, and the CEOs and politicians are committing financial g***cide against the middle class.
Also the definition of employment includes being a driver for Uber or Deliveroo. If the definition of employment was “you have a job that allows you to afford to buy a home, a car and take a holiday each year” then I’d love to know where we are.
Over 60% of US households are living "paycheck to paycheck", and at least 50% of US households have an annual income of 50k or less
.... So liveable wages?
@@rampaginwalrus out of which like 30% live above their means because must consuum to fit in and show off
@@Steven-Tbarely
@@wajihbec1087 wait, I meant if the definition was shifted to "liveable wages" instead of "employed", it would paint a vastly different picture.
This feels like a direct response on the most recent Patrick Boyle video about how everyone is doing better but people are just too dumb to see it and just complain due to nostalgia
Good job once again mr. how money works on showing the actual bad reality people actually live in
People are in a bad place because of the decisions they make. I’ll die on that hill…we’re making more money than we did 5 years ago but somehow is much broker. People are keeping up with the Joneses and complain about the price of a can of tuna but if you see their instagram you’d believe otherwise.
I'm glad I'm not the only one who thought that. I was a little surprised he put that vid out. He was definitely saying we're not smart enough to understand that not we're not broke😂
The shade
I too felt the rage creep in as he told me everything is fine and I am dumb. Everything is not fine.
people have higher wages than ever now. Home prices and rent in certain areas are too expensive, but everything else is close to pre-pandemic cost
Washington thinks that someone with a Master's degree wants to work overnights building a highway. If that's not out of touch, I don't know what is.
But have you considered learning to code?
@@HowMoneyWorks By the time we learn how to code, AI will be much better at it than humans
Imagine having a credential so worthless as to have no real employment prospects and not understanding that beggars don't get to be choosers.
@@rampaginwalrus - Been trying for 10 years.
Pretty sure Im just an idiot and lucky to be able to read.
The degree is mostly useless. The market and government simply does not care about your credentials. You should have invested the money spent on the degree.
Lina Kahn has been a blessing. Since I keep up with what she’s been doing, I didn’t even notice her wins weren’t being praised by the democratic side. That’s absolutely vile. They deserved the L just for that, but also now I’m mad that the majority of people that do not keep up as much I do will never know the good that Lina did for us. Ridiculous
That was the only branch of the executive doing an undeniable good job, but the billionaire donors weren't too happy about it.
They also massively got illegal immigration under control towards the end of the term. Democrats this election hardly talked about the massive benefits they brought to the country.
The majority of people do not keep up as much as you do on ANYTHING. For work reasons, I've spent the last couple of years immersing myself in topics such as disinformation warfare, and the gullibility of the average human being keeps threatening to put me into a depression coma. Critical thinking is both one of the most important skills on Earth, and one of the rarest.
And most people will just assume what she is doing is bad because of the term "regulation" which makes most Americans froth at the mouth.
democrats are just as captured by big money interests. even Kamala woulve fired her based on her donors comments
It really angers me that "can't find work" for too long = not "unemployed", but rather "not working" by modern standards. They are padding their stats so hard.
truth! it's all about the fake/old/manipulated KPIs the government uses. companies change the KPIs they manage to/focus-on, why can't our government do this as well? also, the unemployment rate should never be shown/charted without including the labor participation rate (example). LOL
Those stats exist. They haven't used that measure for 30 years tho bc it made them look bad. We use U3. But we used to use U5 or U6, which includes ppl looking for work. Those numbers are shocking, and you see why they switched.
I get the assertion, but you are considered unemployed as long as you're actively searching for a job. You drop out of the employment pool only after a period of no employment or attempts to become employed. It's a difficult line to draw, because we know a lot of young men especially are falling out of the labor force because they're discouraged by abysmal job availability, but if you always measure using the entire population then you run into crowds like full-time parents and retirees. The data isn't necessarily supposed to be a perfect picture at any point in time, but it's as accurate as we can get and movements in the data can still tell us a lot.
@@det_tf2 the line is 6mo. Fyi. If you tried to find work in the last month. Otherwise you're "discouraged"
@@morganseppy5180 a tale as old as time. The numbers look bad? Why don't we make them better.
"nah, let's redefine the numbers"
You have hit the nail on the head. People don't acknowledge there is a problem. Both politicians and the media. It leaves the majority of the working class entirely frustrated and hopefully something is done about this soon.
I doubt it.
Pretty sure Trump has acknowledged it many times. It will take a while to clean up Democrats mess. But not too long I think.
@@thebes118 Trump? Cleaning up? The billionaire that is about to stuff every american institution full of unqualified buffoons? Yep, I'm sure he's not just interested in not going to prison and enriching himself. I really hope you're trolling, otherwise the american people are even dumber than I imagined and we already look down pretty far on you guys.
@@thebes118Trump wants to cut spending on social programs and cut taxes for the rich. That will help the working class. Ah yes, then we have those tarrifs.
@@thebes118
Yeah he probably addressed very few issues but that itself was enough for him to get an overwhelming majority vote. Shows how desperate people are to get a resolution.
This is the issue with an incredibly unequal society; there is no longer any relationship between macroeconomic success and the success of the voting population. So basically it doesn't matter how well 'the economy' is doing if ordinary people aren't getting the benefit.
Time to raise income and long term capital gains tax for people who make over $500k a year and then dole it out as some form of UBI.
Then people would care more.
Personally i just dropped off the rat race. Spent 5 years doing extra classes or juggling 2 jobs or accepting really highly stressful jobs, doing a ton of overtime and i pass and i basically got nothing to show for it today. I almost ended myself last year after being laid off. Now i'm back being ok but i just work as a custodian, do my 40 hours then go back home taking care of my dog and playing video games. Got rid of the car and a bunch of other stuff to reduce my expenses as much as i could to not feel pressured about money. I tried to become middle-class but the middle-class doesn't want people to join it. So screw it.
Lmao you have a house, a pet, and owned a car. You definitely were middle class and just didn't realize it. But I'm glad you found what makes you happy. We're all gonna die in the end so just enjoy it
Really? I got high blood pressure from all of that hustle.
@@mustang8206they were probably middle class before they got laid off and then the lifestyle just got unsustainable with their lessened income
@@jonathanabgrall6075 with your description on how your life is, I see that as middle class, we still work, but when we home we have our dog or family and get to relax with TV or whatever entertainment. The idea to join the upper middle class is something people forget that was the “American Dream” that is dying. But stranger I am proud of your strength, and hope you can join the tribe off car, house, and vacation soon!
Glad you’re doing better!
This is what class warfare looks like. We live in a corrupt oligarchy. We need ranked-choice voting, ballot access, and more parties.
Heh no, we haven’t even begun class warfare yet. We’re still just reminding people how badly they’re getting snookered unless they’re so wealthy that they’d only have to work again if the stock market literally went to zero.
This last election, ranked choice voting was outlawed in 17 states. Every single one of them Red. Giving voters choice does not favor incumbent parties, so it will never be fixed until the systems shatters.
@@invalidusername9999 That's the tell. We have to keep trying. Let's hope you're wrong on the system shattering -they've set up an enormous police state for a reason.
People with 2 kidneys are greedy. They actively choose to let people die every day
@@invalidusername9999 and every single place without voter ID overwhelming voted blue. Talk about corruption at it's utmost
We support Khan 🙌 Not Corporate America
ghengis?
Kahn Academy?
“Employment is up” is the biggest lie. I witnessed tons of layoffs. I was the one who had to disable their user accounts. I knew who and when they were being let go.
2 days ago i want to the third round of interviews for an entry level job.
The ammount of things the interviewer told me that the position needs to do was just nuts with the added "There will be days where you will need to stay more time" i didn't even complaint because i had been unemployed for 5 months and I'm getting tired.
Yet i need to be somehow thankful.
human ressources are often the uneeded jobs, but, as they are the ones hiring, they are the best at justifying their existence
@@olivierdomingue6312HR and recruiters are getting cut the most. Hiring is being put on top of ordinary workers again, as an extra you need to do.
I've never used 60% of the knowledge required for my job position. I've also seen unqualified people with fake jobs that have special networking situation
I hear ya. I was just turned down a second time for a case worker job I'm fully qualified for working with homeless people ironically helping to ensure I become homeless in about a month.
@@olivierdomingue6312 I work in HR and completely agree. There's a whole lotta nothing going on. A bunch of people creating reports to reply to auditors and regulators, while they circulate feel good announcements about opportunities to volunteer for non-profits.
As the primary bartender of a little local bar/brewery in a middle class neighborhood, you don't need a degree in finance to see how bad things are. From sad strained tone of what people talk about, their plans for the future(or lack there of), or things as grim as the many former regulars I haven't seen once in the months/year since the day they came in to "celebrate" getting laid off.
I've always identified as an Optimistic Realist: the glass isn't half full or half empty; there's just room for more. Even I don't remember what hope feels like.
The only reality we have left is that there isn't a future which is both freeing, because our expectations are gone, and terrifying because we understand that, that nothingness we feel isn't depression but life.
@@jayzee4097Frankly, that emptiness is depression. Please talk about your feelings with someone you care deeply for. Even if nothing changes, talking helps.
The most depressing thing is that I cannot imagine any endgame to this. No breaking point, no paradigm shift, no downfall in sight, no vision of things ever improving in any area. It feels like things will gradually keep getting worse seemingly infinitely.
AI is going to make things interesting.
Congratulations! You have basic pattern recognition. Shit's been getting worse for longer than I've been alive and has all the signs of speeding up.
El único punto de inflexión es la destrucción del sistema monetario por su propio peso, cuando el dinero se halla imprimido tanto y la confianza en este se pierda lo suficiente para guardar en otra moneda entonces podemos hablar de un reset, pero sería horrible la transición para los más vulnerables a corto plazo.
Nothing new, history has been repeating itself. WWII was the last bottoming out before good times come back after. We're on the decline again until things get equally as bad, because the majority of people don't retaliate in big enough numbers to prevent living standards dropping. It won't again be until there's another world war or other drastic event that has enough people homeless and dying on the streets to actually band together to overthrow the suppressors. Enjoy things while they're still relatively good, I don't think the 21st century is going to escape the repeat.
Scared people don't always make the best decisions. That's one big reason why so many political ads go on about "are you better off than you were", they want to ramp up that fear, uncertainty, and doubt (FUD). It's one of the main tricks of marketing and it's used everywhere. Whenever you see FUD being used hang on to your billfold and your liberties.
So stupid. "Hey, my house has leaks and the current admin my not patch them up, so I'm voting for the demented arsonists and their merry band of termites.
Ngl the Internet is such a powerful tool since it's our best way to make our voice heard off while taking action upon those greedy politicians who only care about their wealth.
The only problem is, most of us are greedy too.
I’m just frustrated as a college student about to graduate literally in 3 weeks. I have been told at a young age that getting a degree will help me for my future. But my field is so saturated (CS major), I am tired of spending hours of my time doing OAs to get an automated rejection. At this point I need a job to survive after a new grad but my parents are so upset that I cannot find a job for something I studied 5 years in…. How the heck can someone get a well paying job in a other field but job requirements are so strict and dumb
Technology has always been bad about pigeon-holing applicants and demanding a precise match. I encountered the same in the late 1990s. Companies are unwilling to believe that "a coder" can jump into a different language or platform.
@@Avo7bProjectit's more so that companies can be picky and choose the candidate that won't need a few weeks to learn the required language or framework when they can just hire somebody else that won't need that ramp up time
Better get away from your parents, they will make everything worse by pressuring you into doing things that make them proud but keep you poor with limited options
I feel your frustration, I got multiple certs yet every it job Ive applied to in last 4 months, only 2 of them gave responses, which were not selected. I think its the mentality of businesses leaving hooks out and seeing if what bites is an industry veteran and matches with "on paper" expectations.
Oh I just graduated CS too, I feel your pain. Worst time to graduate CS since 2008 or the NASDAQ burst of the early 2000s, but at least prices went down then, now they're going up.
Politicians: Inflation is down!
The people: but prices are still up!
Politicians: We created 1 million new jobs!
People: Then why can't I find one that pays me enough to live and is full time?
Politicians: We have the fastest growing economy in the G7!
People: When why do I have less money than I did in 2019 while working two jobs?
Offering $5/a day to pick up dog poop counts as creating a job. They never say anything about the quality of the jobs. Unemployment can be down bc everyone is working multiple jobs to make ends meet
Politicians? Who’s in office right now? Lmao, when democrats are in office and things are bad it’s politicians. When republicans are in office and things are bad people make sure to specify. 😂🤡
Deflation is devastating to businesses (check how China is doing). I have no idea what people expect.
Politicians: "We created 1 million new jobs!"
People: "I know, I have three of them and I still can't pay rent!"
Trust me when I say, y'all do not want deflation.
Remember: Our incoming "co-president" Elon said that we Americans will have to "suffer" financially for about 2 years. I'm guessing that means austerity measures are gonna be on the menu.
Well, have you seen you guy debt ?
Doing anything else would just straight up destroy the country. And it’s not like most American aren’t already suffering from the dem results
If you happen to be old enough or studied history, you'd also remember that there was a mini-recession in 1981 after Reagan took over and started implementing his policies but by 1984, the country was humming along so well he won 49 states in his re-election campaign.
Well, you had 5 min pleasure and a 40 year jail time as a result.
>austerity measures are gonna be on the menu
So, the United States is nu-Greece?
@Code7Unltd We were already going through austerity measures. Just means more of our lives will be privatized. Maybe they'll let Starbucks buy every library in the country or make it so you have to pay a toll to walk into a hospital
thank you, for making this. I'm tired of being gas lit how bout how great things are when I work 40 hours a week and can't afford and see no upward mobility at this point in my life
try working 50-70 hour weeks and hardly making enough to provide for your family. God I wish I could get away with 40 hour weeks.
You are paid what you are worth. Finding out what you are worth isn’t always fun
LOL a whole 40 hours a week. Unbelievable.
@@ngf5077 This just isn't true, and I'm far right in my political beliefs. A lot of people in this country are VASTLY over paid, and by inflation that makes people who really deserve what they work for underpaid.
@@Justin73791 deserve? Negotiate higher compensation. If you are worth it then you will be paid it.
If someone is overpaid then provide their service for cheaper.
One easy thing : Stop thinking that the wealth of the rich (GDP (per capita or not), Growth, stock market and all usual indicator) is the wealth of the nation.
That’s the hardest thing in the world. The winners in the current system WANT you to only be aware of those indicators because those are the ones that benefit them. Reporting on the number of people who live paycheck-to-paycheck would be much more useful for understanding the median American, but would also expose how poorly the economy is doing to enable the wellbeing of non-hypereducated workers.
truth! it's all about the fake/old/manipulated KPIs the government uses. companies change the KPIs they manage to/focus-on, why can't our government do this as well? also, the unemployment rate should never be shown/charted without including the labor participation rate (example). LOL
Don't forget that part-time workers who want full-time work aren't counted as "unemployed"
So in this gig economy: unemployment is low but full-time employment isn't the answer to why unemployment is low.
USPS letter carriers have not had a raise in 2 years! Now they're offering US 1.3%, yes we are angry
You can thank DeJoy and his corruption for that. With Trump in, USPS workers may never get that raise.
Ive not had a raise in 4 years while prices go up for everything. Im amgry too. Worse yet, if i did get offered a raise, its barely going to be .2% despite being in a position that was supposed to be salaried. Im already getting paid only 55-60% of whats listed on glassdoor. Still gotta vote for the side more likely to help overall.
@@watamatafoyuOr privatization.
The post office make it hard to do business with them. A local church quit sending out their monthly newsletter and now email it because the minister took the mailing to the post office and it took him over an hour to get it mailed. A check mailed locally to me took five weeks to be delivered. That customer now has me set up ACH no check will be mailed and I can send them the invoice electronically. Another check was returned to the sender even though it was properly addressed to my business in my home.
An out of touch streamer just recently claimed that mailmen are paid 2000 dollars per DAY.
One of my favourite political commentarors basically brought up how on paper the U.S economy is doing better than ever and there actually isn't an issue. Problem is, just because it's doing better for megacorps and investors doesn't mean it trickles down to average people.
Exactly, the myth of trickle down economics
It doesn’t trickle down, the top just expands indefinitely
Patrick Boyle?
mergers & acquisitions are a symptom of small businesses being destroyed. Merely restricting them won't do jack squat. Allowing small firms to compete is the remedy. And making it easier to be self employed will do a lot to alleviate the employment problems. If self employment is a more viable option for employees, then employers are competing against self employment opportunities and not only with other big employers, with whom they can collude.
Yeah. The regulatory burden for small businesses is insane. My last employer owned a convenience store. They wanted to start selling warm biscuits. They already sold warm hot dogs. It took them a year to get the license approved. Not because the state said they were doing anything wrong. That's just how long it took for the paperwork to get processed.
I know another guy who opened a coffee shop/café. He got all his paperwork in and months later they still haven't approved him to sell most of the menu items he wanted to offer.
It's ridiculous.
"Private Equity" is the death knell of a business. It means stripping out what can be sold, and bankrupt what remains.
The problem with competition is that eventually someone wins. And then what do you do when they start buying up or choking out the competition?
To some extent the self-employment movement has been underway for at least the last ten years. It HAS been having SOME SMALL effect on wages, based on my research (or at least, based on published research I've been reading).
@@Pacemaker_fgc If I could like this one a million times, I would. Yes. No matter what rules there are, they favor someone over someone else, and some group eventually does better than the other people. Simulations have shown that even if monetary success was entirely RANDOM, whoever wins in the first round does better than whoever loses in the first round by the time several rounds have gone by, thanks to compound interest and investment returns. (Assuming at least some of the winners of the random success distribution make sensible investments with their money... which means the smart and disciplined people win out even in a world where success is completely random.)
you do really good work here, your scripts are well put together. The message is concise, and I appreciate that you give proper consideration to actually unpack the detail of macro trends
hanks for the kind words :D
@@HowMoneyWorks who is hank and why are you offering him for some kind words
Governments say employment is up. Today that just means gig work and low paying jobs are up, not actual careers. Most of the people I know my age have jobs not careers. I know 1 person my age age who has a career while I know a bunch of late 40s to elderly who have careers. They are the only ones who are not struggling.
One way I put it is that while prices have stopped "spiking", they are still "spiked" - they're no longer "climbing", but they're still so high. People haven't been able to adjust to the new norm, so it's "bad".
It's easy for companies to increase their prices, so those can go up quickly in the event of any factors contributing to inflation. But every increase in wages must be hard-fought and reluctantly given, so it's a much slower process.
Funny how higher wages only "trickle down", but higher prices are cloud seeded at every opportunity.
3:26 did he really just say "thrown their regulatory dick around"?
clearly talking about former competition director Richard A. Feinstein
lol wtf 😂
@@HowMoneyWorks ahhh.. that makes sense
These days, it's all about the size of your putter, evidently. 🤣
Quality. @@HowMoneyWorks
anecdote time: after getting laid off in '22, going through a career change to dev work, which then followed the tech downturn and layoffs and its been a fucking fight to get an underpaid job just to start getting experience since im now competing with thousands of laid off experienced, highly skilled workers.
yet all year i heard how great the economy was and how many jobs were being created. the more i saw this bullshit the angrier i got through the year because i just kept questioning who is it good FOR!? this shits real man and the anger creeps up on you before you know it in just the right circumstances
Well that’s on you for falling for the tech bro bullshit.
I’ve seen so many of your type in the industry, and you can’t just expect that in a few months you are going to get anywhere close to people that started in this industry. I’m tired of having incompetent coworkers because they taught that tech was easy money.
@ lol dude shut the actual fuck up. I did programming in college for new media art with a focus on design instead of computer science. It’s not my first time coding I just didn’t look into as a career. Go clutch your pearls somewhere else you snob asshole
@@andyvirus2300 my last comment got deleted so i wanted to make sure i said this in a nicer way this time. you have no idea who i am or what my life experiences are at all, and for you to make that leap about me says alot more about you than me as a person and how you treat others.
i went to school for new media art, where i had to learn the basics of coding, but my degree focused on design, not computer science. This is absolutely not my first time coding, but i decided to take my previous skills and leverage that into a new career, which i was able to do. so again go clutch your pearls somewhere else, and i pity the people that are forced to work with you, knowing you clearly wouldnt have any interest in helping someone grow or become better
@@andyvirus2300 Tech is easy money... Just not for anyone outside of India (or unwilling to con geriatrics).
@@andyvirus2300I’ve been doing it since I was 15, and still having issues even getting internships 4 years later almost done my bachelors in software engineering.
I have VR game mod (bug fix) , full stack website (that is actually useful, uses an algorithm to reccomend you the best cards for your credit profile and spending habits, im using it myself), and automating some spreadsheet processes in excel.
I also do have previous work experience but that’s only from part time retail, I have personal experience working on electronics, bikes, and cars as well, still no dice on these jobs.
Every 100 applications, I’ve only gotten 2 beyond the rejections/ghostings, and one of those was a scam.
The big problem with fixing this is Americans are leveraged to the gills, with estimates that the average consumer had already used 80% of their available credit back in the summer just to keep up with runaway inflation. We see also car loan delinquencies along with credit cards are at decade highs as people struggle to make payments. So now consumers are having to cut back, purchasing only necessities, making only minimum payments, and so on. This means business revenues and profits are declining as the average American no longer has available credit to continue purchasing like they have for the past few years; and that means layoffs, hiring freezes and/or reduced hours, further hurting incomes and earnings, and driving up loan delinquencies in a vicious spiral.
Most people don't really need cars in the first place. We can complain about the economy 'till the cows come home, but let's not pretend the average American is making wise financial decisions.
@@loneIyboy15 You've obviously never lived in America if you think a car is not an absolute necessity with how transport works here. Plus if Americans stopped buying cars the economies of Germany and Japan would implode and take Europe and Asia with them. Economic prosperity requires both the production AND consumption of goods and services. You can make whatever you want but if no one buys it you'll go broke real quick.
@@loneIyboy15 You can't even hold down a job in 90% of the country without a car. Hell, most companies won't even hire you if you don't have reliable personal transportation.
@@MadFlumph Velomobiles exist. Every time I bring one up, I hear every excuse under the sun why eliminating car expenses is "impossible".
@@loneIyboy15 Your solution to American car dependency is the velomobile? Do us all a favor and never run for public office.
A lot of people are saying that capitalism/the system has failed. I disagree, it works perfectly for the people it has been designed for.
The alternative to Capitalism has a massive track record of dictatorships and millions of dead bodies.
Exactly.
It would work the best if it wasn't meddled with. Biden raised energy prices and that had a huge impact on the price of everything.
It's not capitalism, we are living in feudalism
I think you are one of those people who confuse capitalism with corporatism-govt-fornication ritual, a.k.a crony capitalism.
Also it goes WAY beyond capitalism. It's about people not caring about other people due to degrading religion/culture.
People should be angry! Tax laws and policies favor Companies, and trickle down economics over people and families.
@@jaredyoung5353 start a company.
Americans are sufficiently gaslit into believing their failure to thrive is an individual problem.
Shout out to the editor's resume on the right hand screen at 0:21
Honestly I’m angrier at the moment that it’s Q4 than the economy… God it sucks getting a job while companies are tightening their budgets!!
And getting richer
Haha sorry mate
@@watamatafoyuand overworking the current employees
if a person makes say 20 an hour, their company needs to get 30 an hour in productivity from them
@@TylerHull-mq1vu
Appreciate it
Out of all the hour long deep dives, debates and podcasts I've listened too over the last few months as to why every election this year has turned out the way it has, a goofy guy in california who I watch for basic economic explanations summarises and explains it better than all of them in 12 minuets. Bravo.
It's a top down economy. Stock market & those at the top are doing great.
If you Middle or lower class then your still getting COVID pricing, paying more for less.
Get ready for it to be worst. Once the last bit of consumer protection & regulation is stripped away your going to be paying top dollar for garbage & terrible service.
Yes even worst than what we have now.
When the “goal” of democracy is “make as much money” then the eventual end goal is to maximise prices whilst minimise salaries
Warren Buffett sold stocks of second largest bank in the world. Economy would be in trouble in the future like we never saw in our life time
Interestingly, JD Vance of all people said that he thought Lina Khan did a great job. He got dragged in the media for that as you'd expect. This will not change anything but I figured I'd give everyone some hopium
A broken clock is right twice a day. And besides, you think he’s gonna stop the orangutan from tossing Lina out for monetary gain? Nah.
@@bobthebuilder9509 JD Vance is a questionnable man, but as every human, one can be right and still being the worse. Good luck Americans, January won't miss.
I think JD is a decent man that is compromised by being in Trump's government. He's going to need some flexible values or be very good at shutting up to last these 4 years and still have a political career afterwards.
Employment statistics are always terrible in politics. They have no connection to the people.
Just because unemployment is less, does not make Joe Bloggs happy about a 9-5 job which pays below minimum wage which and only just pays their rent.
Not to mention most of those jobs probably aren't even a 9-5, like pretty much all customer service and retail jobs have a very small amount of full time positions, everything else could be a 20 hour work week, hell I've had retail shifts of 4 hours every day it's terrible and pays nothing but it still counts as employment!
@@onikwa Yeah, 20 hours a week just isn't enough time for the cost of living and when you are working 2 or more jobs you have the extra fun part of wasting about 10 to 20 minutes every week with your managers at those jobs to negotiate times in which you can work because they overlap with another job even though I made it clear on my availability I was not available during those times. I'm thankfully full time now but I do not want to go back to that. I still think the average pay should probably be about $5 more an hour then what we have currently. Even with full time, every single expense per month kind of pushes me to break even just barely and I'm actively trying to spend less.
@@onikwa aye. some people are working three jobs and struggling. When someone is working that hard then it not only is unfair, but it has larger social impacts on their children.
Did I hear that right? “The FTC has swung its regulatory dick around…..” 😭😭😭😭
Lina khan be packing that regulatory schmeat
The existence of Lina Khan and Jonathan Kanter are two of the best people to enter their respective roles in nearly a century. Yet most people are completely unaware of who they are, except through the lens of the occasional temper tantrum from a billionaire upset about being actually regulated for once.
The most frustrating thing about people wanting to re-elect Trump to solve the issues around inflation and high cost of living is that, much like Nixon and Carter in the 70s, the problem originated from *his* policies and the mistake of the Democrat that followed him was not that his policies made things worse, but that they failed to do enough to address the harm done in the first half of his administration as a result of those policies.
Think about it! If you hated how things were in 2020 and 2021, was that Biden's fault or Trump's? If you're longing for the days of 2016 and 2017, are you wishing for the Trump economy? Or were you just loving how well things were going after 2 terms under Obama?
I am fine if you want to create change as a voter to leaders you feel do a better job. But the American public needs an education in how to evaluate whether an administration is on the right track, or whether the troubles being felt under them were actually their fault vs damage done by those who came before them.
2:30... I wish that was true. They really need to start counting people that 'exited' the workforce out of exhaustion chasing an elusive goal. I've been out of a job nearly 3 years now, and sometime last year, I just gave up applying to jobs. It was becoming too stressful. Most never reach back, and the few that do is simply a rejection e-mail or voice mail of some kind. It's not that I don't want to work, but after 400 applications, I just don't see the point in trying anymore.
The non compete rule got held up in court
"Best to vote for candidates that atleast recognize there's a problem"
In every country the incumbents are losing because the new guy is blaming the the ones in charge for inflation even though it’s a global problem.
@@RJames-uy2mt It's Biden problem , Ukraine war , overspend , funding billions to Israel Ukraine .
Yeah and that candidate has a concept of a plan.
Too bad their plan to fix the problem will only make the problem worse
I think every opposition party acknowledge that. Until one year into the mandate has passed.
I appreciate that you explained your background. I understand now why your channel feels so even-handed because you've been both working class and rich, so you've seen both sides.
Robert Reich wrote a great blog post here on YT talking about the workers in the midwest and how presidential candidates on both sides keep ignoring their needs. I don’t follow Reich anymore but it was a powerful piece of writing.
I read an article about Robert Reich years ago, it was titled "Half-right Reich." He does a good job of diagnosing the problem, for instance wages are stagnating for workers, but his solutions are old-school socialist. One absurd contradiction is that he's pro union, but lobbied aggressively for NAFTA. So in the past he was better than most because he at least acknowledged there was a problem, but his solutions were awful.
@@bobbobertson7568Unions usually have opinions about non-organized labour. But I don't think it matters as much as you think if that unorganized labour is a Mexican seasonal worker or an Uber driver from Florida.
No matter what the "talking heads" in the media claim, every time I go grocery shopping the reality sets it
The non compete rule is still in effect. The shit got thrown out
oh come on guys just take one of the millions of new jobs that are either fake numbers reported by corporations for tax reasons OR just straight up worse paying jobs than anything you've had previously what's the big deal?
That’s the funniest part. If you do find a job posting or get contacted about an open job, the pay is the same or worse than what you were making 5-7 years ago. These companies are clowns 🤡
90%+ of them didn't even go to citizens, IIRC.
@@blahblahblah-uw4ufI got a posting yesterday for mechanical technician II which paid $21 dollars/hr. The regular assemblers at our company make that starting out why would an experienced and trained tech be willing to take that pay? Stupid.
@@andrewpolito9244 Exactly. Why would someone with 5-10 years of experience be interested in a job that pays the same as an entry level person with zero experience. Make it make sense.
Hopefully the democrats get their shit together and stop being the other party of billionaires.
Wont happen with that system. One cant win elections without money of billionairs
Nah, the money is too good.
Getting handed a sh*t sandwich and being told it's a BLT is frustrating. Calling the "manager" to fix the issue and having them show you a graph based on some funny numbers about how sh*t sandwiches are actually BLTs is beyond angering
for years, the attitude in business/politics has been "let them eat cake"
@@GoregeusGoblin serfs don’t matter lol
I always try to remind myself that of all generations ever, economically, we are still in thr top 10, easy. Still, the stark contrast between the last few generations and mine is hard to stomach.
About the rich kids, "never needing the police to be safe" no, there police were there to keep them safe, but those kids didn't see them, were kept from seeing them, or were the problem for the police and why they wanted them gone.
people will literally do anything besides simply paying people what their worth blame it on anything you want but it always comes down to the same thing. everything is more expensive, and despite bullshit statistics i dont know a single person who is making as much as they were in 2019 let alone more. Edit: and its pretty easy to tell who you would vote for. the person who shares your privilege. plus your bias is easy to see in the way you deliver your "answers" like they are fact and not conjecture
In a great generalization, there are really two classes
Working class and stockholders
The working class builds and runs the world, while the stockholders benefit off their backs, making often worse decisions for a company than the workers "in the field" who would often better know how to improve performance and work, increasing work/life balance
But in order for that to happen, the stockholders would have to give up control, and their income.
New idea, how about ubi funded from the "profits" and stockholders make less than the people who actually do something for the company
Congrats. You just invented communism from first principles. Here's your medal. 🏅
this is what happens when you have scholars and politicians obsessing over numbers and spread sheets. you can cook numbers to look great meanwhile everything is falling apart.
It is illegal for one’s election campaign to cost more than a pre-determined amount of money in most parts of the world, except America of course.
Elections have different rules around the world. It might be allocation of tv time. Sometimes the campaign stops on the last few days.
I think the disconnect is what people are saying and what they are seeing. People are saying that they can't afford stuff. But the grocery stores are always packed with carts filled with groceries, restaurants are busy every day, airlines are filled with people, hotels are constantly booked, online retailers are making record profits, people are still buying these expensive homes at the high interest rates, people are still buying gas guzzling expensive trucks and suvs, concerts and sport games are still selling out. Alot of people are being laid off, but alot of people are getting jobs. I think that's where the disconnect is.
It sounds like you have an upper middle class pulling ahead.
I'm always interested in variations inside class. And I think this lets a lot of upper middle class feel like honorary upper class, even if they are tossed crumbs or it all depends on debt.
It's not an extremely small elite who has benefited from house prices, but people who could be your grandparents.
@SusCalvin oh I'm far from upper middle class. I'm just a black man who grew up in the projects from the small rural segregated town in Arkansas. Me and my sister from a family of 9 are the only ones with a college degree. I was working at the hospital as a paramedic when the pandemic happened and decided to go back to school. I eventually landed a job making $67k yr, which is double what I was making as a medic.Not to say that I am well off, I do have my stuggles and trying to pay off debt, but I am doing alot better than I was 4 years ago.
I do see other people struggle especially when I go visit my hometown in Arkansas, there is a great despair of economic hardships. But, on the flip side of that, there are 2 new solar factories that opened up there a couple of years ago and construction going on to update the infrastructure there thanks to Biden infrastructure policies. Alot of those factory workers have only high school diplomas, making decent pay have nice houses and big fishing boats in there driveway, yet they voted for Trump. Shoot, even one of my brothers voted for Trump because he said everything is expensive and hard, yet he has a supervisor position at one of the factories, only have a high school diploma, and he is making more money than me. Unfortunately, those plants may close down under Trump because he said he is getting rid of everything Biden created that has anything to with green energy.
I guess the point I was trying to make is that I think the Democrat politicians are disconnected from the voters. What they see is robust spending, which is reflected on what they see on paper and that is a healthy economy. When in fact, alot of people are indeed struggling and cutting back and can't find jobs.The Democrats were not listening to their constituents when they told them this, but just tuned the voters out, basically saying oh we see you out there spending money on online retail and restaurants, taking those vacations, going to those concerts,getting hired at those jobs we created, so a win is a win an you're not struggling. That made alot people angry and rightfully so.
@@bdodd101 I just think the narrative is just that, a narrative. All my coworkers make more than me and say the same thing about how terrible it is and they are dying of hunger and bills. Yet I'm about to buy my first house outright. No mortgage or anything. Reality and math just don't add up. Some are struggling, maybe more than before but that is always the story. It's like the narrative of Boomers are all home owning land grabbers who ruined it for the rest of us yet somehow are struggling and scared if they lose Social Security and Medicare they will die. Maybe the world is more nuanced than people are capable of these days. I don't know.
@bdodd101 I always think in terms of European parties, because that's what I'm used to. Smaller, more ideologically defined. I don't expect the liberal-conservative or the christian democrats to be social democrats. To bunch them into one of two giant parties is hard to wrap my head around.
We also need a broader conversation on why inflation is considered “normal” at 2-3% a year, while a crime caused by the current administration if it passes 10%. Government manipulation of green rectangles is stealing productivity from the bottom and moving it to the top, causing many of these problems.
I’m often reminded of “A Tale of Two Cities.” “It was the best of times. It was the worst of times.” That at least gives me some small comfort in that our troubles are not unique
it's not unique and yet the governments to reach a solution to fix it, make it feel like the worst problem of the century, because daaaamn they really slow about it.
that should be devastating news for you; that novel is at least 2 centuries old
To the contrary, most of this is business as usual at the historical scale, and a return to form if anything. Very little of this is truly new, although a few key elements are.
@@NevisYsbryd The one new key element is internet-based globalization and its many, many effects on the world, some obvious and predictable (protectionism vs. free market battles) and others less so (nations offering digital nomad visas). I don't know if anyone, including me, is capable of fully understanding this transformation. We may have to wait another 50 years before anyone can write a good history of all the changes this technology revolution brought.
@tarlkudrick1174 That is not the only one, although I agree it is the biggest one. Categorical leaps in accessibility and range of communications technology are some of the most dramatic because the increase of speed and comparison with different perspectives increases logarithmically or more.
If you want a reference point, consider the printing press, which, alongside firearms, precipitated the Reformation and breakup of sociopolitical hegemony. A lot of our modern context resembles the transition of the Late Middle Ages to the Early Modern Period with many of the trajectories inverted.
I’ve come to realize that people are fine with socialist policies as long as you don’t call it socialism.
This is a great comment -- and somebody on TH-cam exposed a different way of polling voters prior to the election ||>> by using policy statements for people to decide on without knowing which party is behind it … upshot most people were bipartisan in agreement on what MAGA would consider “socialism”. People nowadays do need a more level playing field to succeed.
Yes. It's pretty obvious that people need and should want radical leftwing policies. But they keep voting for the opposite and shift further right on the spectrum year by year. I mean, They get what they are voting for. I don't know why they are suprpised. It's nice that they are pumping up my stock portfolio though.
There is a perfect example of socialism in America that many don't realize. The military. They have full healthcare, benefits, and educational coverage. Also if you look at the hierarchy it is also more merit based. Compared to a corporate structure, in the military those at the very top don't exponentially out earn those at the very bottom. The military has many socialist policies in place and not even the most right wing of Republicans will fuck with the US military.
There's an important difference between heavy regulation of a market economy baseline to correct the problems of a market like volatility of inelastic necessities and having a command economy baseline with practically impossible to solve incentive problems. "Classical" Socialism is the latter with an incredibly long history of everyone involved refusing to learn from the constant failures, "pure" Capitalism is deft at avoiding the former while demanding several wealth-concentration opportunities due to investment dynamics.
The "socialist" policies that have a track record of actually working are the state being a capitalist actor in itself using the revenue from its business ventures in place of truly crippling taxes for welfare (Sovereign wealth funds like the Scandinavian states) and market economics driven bottom-up by the workers forming cooperatives rather than top-down by investors buying material to work with (market "socialism" like Slovenia). Neither remotely fits the incredibly vast majority of socialist theory nor "socialism" as an economic model of its own because both are still beholden to extremely devolved decision making by consumers paying with money.
I would really like to see how the USA would react if the social democrat party of Finland suddenly ran, or if European christian democracy came.
Don't you love it when our Leaders who are in the top percentage of earners talk to us that everything is going to be absolutely fine. Kind of leaves a poor taste in your mouth. Not that their statements are without merit and we may have avoided the worst case scenario. That said most people don't feel secure with avoiding the worst case scenario, so i get people want change.
@@pulzie8790 provide value. You are not worth much
Thanks for making a semi-political video that properly balances out the concerns of both parties. It is telling that the comments section is civil that you put a lot of time, effort, and thought into this video to find common ground. And this I applaud you for.
gonna be honest. I am absolutely fed up with people my age voting on identity politics instead of economic interests. I don't even care which side of the isle you go for... but ffs having a democratic representative won't make people stop bullying you. A republican representative won't make your neighbors racist. fuck lobbying. fuck corporate journalism. fuck our healthcare system. fuck our declining education system. fuck the people that make it possible for some full time employees to be homeless
Both Trump and Biden paid for their responses to the pandemic. Trump paid in 2020 because he didn't do enough to help the people when the pandemic started, and Biden/Kamala paid this year because he didn't help the people enough in the years after the pandemic.
A lot of people are worse off than they were in 2019, so this should be a lesson to all politicians that if the people aren't doing well, they will blame whoever the current administration is, so do right by the people economically
All that "help" has been driving the inflation people want help with. Money printing/borrowing has consequences.
The federal deficit is nearly two trillion dollars for this year. There's nothing sustainable about that. There's no room for "should have helped more". The federal government is just as broke as you think people are. It's not living paycheck to paycheck. It's living on credit. Americans need to get real about government spending. Adult conversations are long overdue.
Trump won, though. First President to win three terms in a row in a long while.
@@BTrain-is8chSo...cuts to social security and/or military spending? Because if you're not inclined to allow either of those you're not going to be able to make up for that deficit with spending cuts.
If every single civilian federal employee was laid off that would only account for 15 percent of the overall budget.
@@BTrain-is8ch And yet there's always room for tax cuts and subsidies for the wealthy under both sides of the aisle. Doing nothing is not sustainable. Sayings like everyone should just "pull themselves up by the bootstraps" is nice, but is unrealistic for Americans already struggling. Government CAN be a good tool for giving Americans a helping hand, but not in its current form where big money rules everything.
He wasn't voted out, though.
All i know is that if corporations and billionaires want someone gone, these people are doing their job right
Worker co-ops and unions, mutual aid groups, red guard teams and community antifascist defence, libraries, gardens, free community fridges etc. Gonna need stuff.
We've outsourced a lot of the jobs that used to pay well and the remaining ones have ridiculous barriers to entry or have terrible working conditions
Politician incumbents: *Gaslight*
Media: *Gaslight*
People: "Why do I not have money then? Why are the only jobs that have the 'grace' to 'reduce themselves' to responding to your applications in the past 4 years are ones that say you don't have experience?"
Media: *Gaslight*
Politician: "You go, girl boss! You don't need a primary or any process that is democratic in anything but name!"
@@SangoProductions213 you are paid what you are worth. Turns out you are not worth much
@@ngf5077That's right! They should get educated in something like... Hmmm, Pyrotechnic chemistry! That way, the cost of them being unemployed and radicalized is far higher than giving them a job!
@@ngf5077 Turns out, the entire country recognizes the lies. Have fun with Trump.
In the Animal Farm the goverment kept saying the stats are up this and that percent, but the peope didn't feel it. That is what is happening now. The gov keep spitting good stats but the people feels thing are getting worse and worse.
Within the first 45 seconds you've explained more an' have been more honest about the economy than the mainstream or even my local news. Your work is priceless, Sir - Thank you.
I do wish they valued the opinions of us poors. They are so far removed from what we deal with everyday that they have no idea. The system may be to broken to fix.
Trump's gonna fix the energy prices and that will bring the price of consumer goods down.
@@edheldude Let's see how well this comment aged in a few years. Or a few months - all predictions from reputable economic think-tanks with high accuracy reputations point to consumer prices soaring as soon as Trump's policies start taking effect.
@@sonipitts Ah yes, the so called experts.
@@sonipitts And you thought the other side's tax hikes on companies and individuals were going to result in what exactly? Falling prices?
The federal government is too big. It is too expensive. It is part of the problem not the solution. Neither Democrats nor Republicans show any inclination to address those problems.
@@BTrain-is8ch
Kamals plan had tax reductions for workers and a child tax credit.
"Both sides" doesn't work here
I am pissed because I had to turn 22 in the same decade that the economy decided to tank.
Influencers say we "We should be grateful." Yet, they take their luxurious life style for granted
I don't get why bragging about Lina Khan's achievements would be bad for democrats. Sure, the billionaires would hate them, but billionaires already know about this stuff anyway. And most of the voters are not billionaires.
The billionaires don't want the voters to know, and the pols all have to tell the billionaires that Lina was a Biden pick and she'll be out next year, but they can't do that if they're selling her to voters.
The billionaires are the ones funding democrats. If they acknowledge Khan's wins, they lose funding.
Because instead of listening to voters they need billionaires to fund their political ad campaigns explaining to voters that it's "not that bad, vote for me!"
I got an ok job but have been looking for a job because company might be doing layoffs. Job market sucks. It has sucked since 2022. No one is hiring, the few job postings have absurd requirements for shit pay. Most people know this. People at the lower end are working multiple jobs just to get by. I know because I try to hook up with 30-50 year old women and they're always at work(no it's not just an excuse), working uber, retail, etc.
Yeah, I browse the internal postings at my company and realize that I've aged out, and don't care to dance and sing sufficiently to get a different role. I just cling to where I am, and don't even care about what it takes to excel and get a raise anymore. I'm just going to dog-paddle to retirement and take the attitude that each paycheck might be my last.
The economy is fine…..if you’ve been rich for decades
More people need to see this message. They need to see what's been happening, and what's going to happen to them.
People won’t believe anything that isn’t in their self-interest to believe
rt ppl dont care about the long term sustainability of the collective
Any1 else here would bet Dems aren't going to learn the right lesson from this?
Wel now in Trump is in power it shouldn't take him long to fix it. Right?😊
They wanted Trump in power too, theres only one party in America, its the capitalist party, its all a game they play to make us feel like we have a choice
That was the same concern back after the 2004 election, then look what happened
My guess is things aren't going to get better so we'll just spend the next few decades switching parties every election because things will be not get better so long as the big money donors own both sides
I don't think they need to learn anything. No presidency is perfect, Trump can stabilise things enough for the next Republican to be re-elected but that's just about it, an economic situation where stock markets, corporations are doing well but people are not is inevitable with the rise of AI and automation, that is not slowing anytime soon
Pretty good video.
Something I would have liked to have addressed is the way the metrics help create this issue. Jobs, GDP, etc have all been target metrics for so long that they practically game themselves.
Things are completely fucked. Their denial is insane and part of the damn problem in fixing it
I’ll make this point every time, we need to stop basing how well a country is doing based on how well rich people are doing
GDP is the most misunderstoid and ovwrused jargon
So long as it is possible for individuals or private interest groups to infinitely grow in wealth and power, democracy will inevitably die. A wealth cap ratio is the only way to save democracy.
@@rampaginwalrus you’re not entitled to other peoples resources
@@ngf5077so the rich who produce nothing shouldn’t be entitled to the labor they exploit. Correct.
@@rabl3535 correct. Don’t like it? Don’t use their resources
@@ngf5077 account made in 2022, you're either a bot or a child. Even if you're an adult, your moral compass is apparently shallow enough that "I don't want to share" is somehow a good and righteous reason for why millions of people should need to work 2-3 jobs just to barely survive, while a tiny number of people own 2-3 houses without needing to work a single day in their life.
"I don't want to share" is a good enough reason why the bottom 50% of the population only owns 2.5% of the nation's personal wealth? That's not even including the wealth and assets of corporations.
We work the factories, we farm the fields, we work in the hospitals, we build the homes and infrastructure, we do all the work, and they get all the rewards. The rich are stealing from us. They've gaslighted us into believing that the fruits of our labor rightfully belong to them. This is feudalism. We have been relegated as peasants, all the while being told that THIS IS freedom, and so there's no need for us to fight for our freedom.
3:18 tragically workers have been wining 😂
9:53 "Lets sneak in some Ukraine parlament footage, nobody will notice 🤭"
Ляшко сюдааа
If you have 10 people in a room and 9 of those people are unemployed and 1 of those people is the CEO of a fortune 500 company with an annual salary of $1,000,000 per year, the mean salary of people in that room is $100,000 per year but the median salary is 0.
Further grim thought; 90% of the people in that room will be suffering horribly every day, and be degraded, while 10% live in luxury.
@@tornamacpilib5029 if you have a chance room with 1 healthy patients and 1 dying of kidney disease.
Everyone has an average of one healthy kidney.
This does not stop greedy people from refusing to share
I think more and more about building a shack on some friends property and just selling my house and quitting that stupid ass job lmao
"Give me control of a nation's currency, and I care not who makes its laws."- Mayer Amschel Rothschild.
It is all shuffling around deck chairs on the Titanic.
Give me a made up quote and I’ll spread it all over the internet.
Aristotle
"You win elections by meeting people where they are, not by telling people they are in the wrong place."
-Someone probably, not me
Wow. It was a meme about this privileged rich girl getting air dropped into politics calling herself middle class... but it actually worked? Some small deal of people actually believed it?
"Oh nooo... Wealth is being concentrated to the top one percent and not trickling down to us regular folks. What are we, as a calitalist society, gonna do about it?"
@@muhammadfadhilnurhafizwang7932 people who provide value have money flow towards them? That’s not surprising
I knew i liked you! I'm from Pittsburgh. We give directions based on where businesses used to be (cause they all died).
Hell ya love from pa👍
I love the grounded reality of this channel!!!
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation.*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.
Honestly, our government has no idea how people are suffering these days. I feel sorry for disabled people who don't get the help they deserve. All thanks to Mr Michael Wayne, imagine investing $1000 and receiving $5700 in a few days..
I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do? Thank you
Well, I engage in nice side hustles like investing, and the good thing is I do it with one one of the best(Michael Wayne), he's really good!
Did someone just mention Mr Wayne!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is
Politicians: So many jobs have been created.
Normies: I know, I'm working 3 of them.
Politics used to be a small part of our lives and was really boring to discuss. How did it become the focus we revolve around??
I think it started with Bush vs Gore. That was the original "Election was stolen" meme and we've never been able to cool off as a society since.
For one thing, it started to obviously connect to a lowered standard of living beyond the point of comfort for a large and vocal portion of the population.
Probably because Trump came on the scene in 2016 and began saying crazy nonsense and constant lies which drove media engagement
@@Avo7bProjectThe largest bug I could see from the outside was gerrymandering.
The electoral college as a middle man between the voter and the government was hard to grasp.
When the working class started to lose ground vs gain it.
Right around mid Clinton era, maybe post 9/11, if you had to put a date on it.
But it started under Reagan FWIW.